Introduction
Summary
Background
The Bill
Commentary on Sections
Part 1: The duty of care
Section 1: The duty of care
Section 2: Application of duty of care
Part II: Investment
Section 3: General powers of investment
Section 4: Standard investment criteria
Section 5: Advice
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Section 7: Existing trusts
Part III: Acquisition of Land
Section 8: Power to acquire freehold and leasehold land
Section 9: Restriction or exclusion of this Part etc.
Section 10: Existing trusts
Part IV: Agents, Nominees and Custodians
Section 11: Power to employ agents
Section 12: Persons who may act as agents
Section 13: Linked functions etc
Section 14: Terms of agency
Section 15: Asset management: special restrictions
Section 16: Power to appoint nominees
Section 17: Power to appoint custodians
Section 18: Investment in bearer securities
Section 19: Persons who may be appointed as nominees or custodians
Section 20: Terms of appointment of nominees and custodians
Section 21: Application of sections 22 and 23
Section 22: Review of agents, nominees and custodians
Section 23: Liability for agents, nominees and custodians
Section 24: Effects of trustees exceeding their powers
Section 25: Sole trustees
Section 26: Restriction or exclusion of this Part etc.
Section 27: Existing trusts
Part V: Remuneration
Section 28: Trustee’s entitlement to payment under trust instrument
Section 29: Remuneration of certain trustees
Section 30: Remuneration of charitable trustees
Section 31: Trustees’ expenses
Section 32: Remuneration and expenses of agents, nominees and custodians
Section 33: Application
PART VI: Miscellaneous and Supplementary
Section 34: Power to insure
Section 35: Personal representatives
Section 36: Pension schemes
Section 37: Authorised unit trusts
Section 38: Common investment schemes for charities etc
Section 39: Interpretation
Section 40: Minor and consequential amendments etc
Section 41: Power to amend other Acts
Section 42: Commencement and extent
Schedule 1 – Application of duty of care
Schedule 2 – Minor and consequential amendments
Schedule 3 – Transitional provisions and savings
Schedule 4 – Repeals
Commencement
Hansard References